Enterprise zones are locations across the UK that offer companies incentives to locate their businesses in those areas.
- reduced taxes
- simpler planning rules
- financial benefits
Many Enterprise Zones have employment clusters, where businesses from the same sector are located in the same areas.
The Enterprise Zones are present at various locations across England, Scotland and Wales and are part of a Government strategy to make the UK the best place in the world to start and to grow a business.
They have enjoyed considerable success so far, with over 400 new business created employing over 12,500 people and £2bn private investment committed to their success.
All of the Enterprise Zones offer discounts on the amount that must be paid to the local council for essential services – this Business Rate Relief scheme can cover up to 100% of these costs, to a maximum of £275,000 over five years.
Some Enterprise Zones offer additional financial incentives to organisations intending to set up business premises in their areas – for example, companies investing heavily in new plant and machinery may be able to write off one hundred percent of the cost of this equipment against profits in the year in which the purchase is made. This programme of ‘Enhanced Capital Allowances’ can have a value of up to £100 million.
Other benefits of establishing a business within an Enterprise Zone may also include lease payment holidays and development funding.
For more information on Enterprise zones in England, Scotland and Wales, Global Entrepreneur Program (GEP) or for various investment options in the UK including Tier 1 Entrepreneurs, Sole representatives of overseas business or sole representative of media houses you can call on +91 98191 27002 or email us at firstname.lastname@example.org to book an appointment for consultation with our UK Immigration Experts.
Our UK immigration experts can also advise and assist companies in applying for Tier 2 sponsor licences and carrying out Resident Labour Market Test (RLMT) for Tier 2 visas.
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